#Sweden #Truecaller #share buyback #Stockholm

Truecaller's B Share Buyback Strategy Revealed

Truecaller AB, a prominent name in contact verification and communication management, has recently undertaken an active share repurchase program. Between November 25 and November 29, 2024, the company repurchased a total of 15,000 of its own B shares, as part of a strategy aimed at enhancing shareholder value and reinforcing confidence in its market position.

Overview of the Share Repurchase

During the designated period, Truecaller executed these transactions through Nasdaq Stockholm, employing Carnegie as the executing broker. The repurchased shares represent about 0.004% of the company's outstanding capital. However, since the launch of the share buyback program initiated on May 28, 2024, Truecaller has successfully bought back approximately 3.9 million B shares. This cumulative effort accounts for about 1.11% of its outstanding capital, indicating a strong commitment to return value to shareholders.

Details of Transactions

The specific details from the week of November 25 are noteworthy:

• - Date of Repurchase: November 25, 2024
• - Number of Shares Acquired: 15,000
• - Weighted Average Price per Share: SEK 46.84
• - Total Transaction Value: SEK 702,630

This systematic buying aligns with the authorization received from the Board during the 2024 Annual General Meeting, allowing Truecaller to conduct share repurchases until the next Annual General Meeting, scheduled for May 2025. The aim is to maintain the company’s holdings of B shares below ten percent of the total share count, a regulatory standard that underpins this initiative.

The Bigger Picture

The share buyback program is part of a proactive approach by Truecaller to solidify its market positioning amidst a competitive landscape. Unlike direct dividend payouts, buybacks are often seen as a strategic method for companies to invest back into themselves, leading to potential increases in stock value, reduced shares in circulation, and enhanced earnings per share for remaining stockholders.

Truecaller, since its IPO on October 8, 2021, has consistently focused on building a trusted environment for communication through its platform, which boasts over 420 million active users. As regulatory standards and market conditions evolve, strategies like these highlight Truecaller’s intention to ensure long-term growth and financial health.

Future Outlook

As Truecaller gears up for future opportunities and challenges, its decision to engage in share buybacks could pave the way for stronger performance metrics and elevated investor sentiment. The total number of shares in circulation now stands at 353,040,414, with outstanding shares, excluding its own holdings, at 343,033,748.

Conclusion

Truecaller’s strategic repurchase of shares signifies its adherence to creating sustained value for its stakeholders, amidst a landscape characterized by rapid changes in technology and market dynamics. Looking forward, such financial maneuvers are posited to strengthen the company's market presence and support its core mission of fostering safe and efficient communication across global platforms. For further details, shareholders can reach out to Andreas Frid, Head of Investor Relations, for personal consultations regarding the company’s ongoing financial strategies.